2nd Circ. Could Curtail Insider Trading Prosecutions

Law360, New York (April 18, 2014, 5:27 PM EDT) -- An impending Second Circuit ruling on whether the government should have to prove that recipients of insider trading tips knew their source stood to benefit from the disclosure could drastically limit prosecutors' ability to pursue charges against those further down the "daisy chain" from an illegal tip, experts say.

Hedge fund executives Anthony Chiasson and Todd Newman have argued they should not be prosecuted because they were unaware a Dell Inc. employee had his own enrichment in mind when he passed them nonpublic information. Should the defense prove successful, attorneys believe it could impose a massive new burden on the U.S....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS